Buncranagirl
Registered User
- Messages
- 1
Income details
Net Income self: 3970
nature of income :semi state
Income history: I am permanently employed in a semi state. Since may 2010
Personal circumstances so we can calculate your reasonable living expenses
One adult
Do you need a car for work or do you use public transport?
I need a car to commute from mortgaged house in Sligo to rented apartment and work in Cork
No Children
Monthly spend on special circumstances:
Rent on apt in Cork is €450 pm, €200 per month on essential medical treatment
Home loan
Lender: EBS
Amount outstanding: 250,000 term remaining 29 years
Value of home: 70,000
Interest rate: fixed 5.65 for another 3 years
Monthly repayment should be 1,460, am only managing to pay about 1,200pm
Amount in arrears 3,500
Summary of discussions and agreements with the bank.
Asked for a split mortgage and was refused .
asked to go onto variable interest rate but the penalty amount would have negated the benefit of doing so
Had 2 short periods of interest only and told no more available
Credit Union
Amount of shares 1200
Amount of loan outstanding 8000
Monthly repayment 360
Term left 3 years
Overdraft – 1,000
Personal loan to be repaid to a friend 27,000. It’s on the long finger, no repayments .
Other savings and investments NONE
Do you expect any lump sums in the medium term future? NO
How important is retaining the family home to you?
I would like to keep it, but will get rid of it if it means I can get rid of the mortgage associated with it.
Any other relevant information
I have a house in Sligo but took a job in Cork in summer 2010 as it was almost double my previous income and I was led to believe that a transfer back to Sligo would be forthcoming in a couple of years. The transfer policy has evaporated and I have been told to expect to stay in Cork for the remainder of my career. Then my intention was to sell the house in Sligo but obviously I am in massive negative equity and the house is in an unfinished estate with empty foundation sites beside my house so it is not even remotely attractive to buyers. I rent an apartment in Cork for €450 per month. I am paying 2 esb bills, 2 heating bills. I have to commute back to the house on my days off because it has started to be vandalised, oil stolen, rubbish dumped in garden etc. I tried to rent it out but again because it is in an unfinished estate the health board refused to use it and private renters won’t come near it. There is extra expense attached to all the commuting between Sligo and Cork.
What is your preferred realistic outcome?
I would like a split mortgage or sell the house with some debt write down. I have no attachment to it and would be delighted to be rid of it. I would appreciate any opinions on my options .
Net Income self: 3970
nature of income :semi state
Income history: I am permanently employed in a semi state. Since may 2010
Personal circumstances so we can calculate your reasonable living expenses
One adult
Do you need a car for work or do you use public transport?
I need a car to commute from mortgaged house in Sligo to rented apartment and work in Cork
No Children
Monthly spend on special circumstances:
Rent on apt in Cork is €450 pm, €200 per month on essential medical treatment
Home loan
Lender: EBS
Amount outstanding: 250,000 term remaining 29 years
Value of home: 70,000
Interest rate: fixed 5.65 for another 3 years
Monthly repayment should be 1,460, am only managing to pay about 1,200pm
Amount in arrears 3,500
Summary of discussions and agreements with the bank.
Asked for a split mortgage and was refused .
asked to go onto variable interest rate but the penalty amount would have negated the benefit of doing so
Had 2 short periods of interest only and told no more available
Credit Union
Amount of shares 1200
Amount of loan outstanding 8000
Monthly repayment 360
Term left 3 years
Overdraft – 1,000
Personal loan to be repaid to a friend 27,000. It’s on the long finger, no repayments .
Other savings and investments NONE
Do you expect any lump sums in the medium term future? NO
How important is retaining the family home to you?
I would like to keep it, but will get rid of it if it means I can get rid of the mortgage associated with it.
Any other relevant information
I have a house in Sligo but took a job in Cork in summer 2010 as it was almost double my previous income and I was led to believe that a transfer back to Sligo would be forthcoming in a couple of years. The transfer policy has evaporated and I have been told to expect to stay in Cork for the remainder of my career. Then my intention was to sell the house in Sligo but obviously I am in massive negative equity and the house is in an unfinished estate with empty foundation sites beside my house so it is not even remotely attractive to buyers. I rent an apartment in Cork for €450 per month. I am paying 2 esb bills, 2 heating bills. I have to commute back to the house on my days off because it has started to be vandalised, oil stolen, rubbish dumped in garden etc. I tried to rent it out but again because it is in an unfinished estate the health board refused to use it and private renters won’t come near it. There is extra expense attached to all the commuting between Sligo and Cork.
What is your preferred realistic outcome?
I would like a split mortgage or sell the house with some debt write down. I have no attachment to it and would be delighted to be rid of it. I would appreciate any opinions on my options .